Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) – Research analysts at Cantor Fitzgerald cut their FY2017 earnings estimates for Corvus Pharmaceuticals in a research report issued to clients and investors on Tuesday. Cantor Fitzgerald analyst M. Goldstein now anticipates that the company will post earnings of ($2.96) per share for the year, down from their prior estimate of ($2.60). Cantor Fitzgerald also issued estimates for Corvus Pharmaceuticals’ FY2018 earnings at ($3.31) EPS.
Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.73) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.03.
Several other research firms have also weighed in on CRVS. Credit Suisse Group reduced their target price on Corvus Pharmaceuticals from $26.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, July 4th. Cowen and Company restated an “outperform” rating on shares of Corvus Pharmaceuticals in a report on Tuesday, July 4th. Zacks Investment Research upgraded Corvus Pharmaceuticals from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Monday, July 17th. Finally, Wedbush began coverage on Corvus Pharmaceuticals in a report on Wednesday, August 2nd. They issued an “outperform” rating and a $26.00 target price for the company. Five investment analysts have rated the stock with a buy rating, Corvus Pharmaceuticals currently has an average rating of “Buy” and an average price target of $20.50.
Corvus Pharmaceuticals (NASDAQ CRVS) opened at 11.30 on Thursday. The company has a 50-day moving average of $12.12 and a 200 day moving average of $12.86. The stock’s market cap is $236.55 million. Corvus Pharmaceuticals has a 12-month low of $8.27 and a 12-month high of $22.14.
In related news, insider Richard A. Md Miller bought 25,000 shares of Corvus Pharmaceuticals stock in a transaction that occurred on Tuesday, June 13th. The stock was purchased at an average cost of $9.88 per share, for a total transaction of $247,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings A/S Novo bought 20,000 shares of Corvus Pharmaceuticals stock in a transaction that occurred on Friday, June 23rd. The stock was bought at an average price of $10.95 per share, with a total value of $219,000.00. Following the completion of the acquisition, the insider now owns 3,244,046 shares in the company, valued at approximately $35,522,303.70. The disclosure for this purchase can be found here.
A number of large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Corvus Pharmaceuticals by 81.6% in the second quarter. Bank of New York Mellon Corp now owns 28,978 shares of the company’s stock valued at $351,000 after buying an additional 13,023 shares in the last quarter. Schwab Charles Investment Management Inc. acquired a new position in shares of Corvus Pharmaceuticals during the second quarter valued at approximately $212,000. Russell Investments Group Ltd. increased its position in shares of Corvus Pharmaceuticals by 29.3% in the second quarter. Russell Investments Group Ltd. now owns 9,286 shares of the company’s stock valued at $112,000 after buying an additional 2,105 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Corvus Pharmaceuticals during the first quarter valued at approximately $8,480,000. Finally, Endurant Capital Management LP acquired a new position in shares of Corvus Pharmaceuticals during the first quarter valued at approximately $282,000. Hedge funds and other institutional investors own 82.66% of the company’s stock.
Corvus Pharmaceuticals Company Profile
Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of immuno-oncology therapies. The Company is developing drugs and antibodies that block crucial immune checkpoints and reprogram immune T-cells. The Company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response.
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